Wednesday, October 21, 2020

KSE 100 sheds 17 points on MPS

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
The benchmark KSE 100 of Pakistan Sock Exchange shed 17 points on Wednesday on investor’s lackluster behavior before the announcement of Monetary policy.

 

Market performed roundabout the same way as it did on Tuesday, oscillating between +153pts and -94pts with a total volume of 125M shares.

 

Nervousness among investors was quite apparent as the D-Day approaches for the Monetary Policy, which will be announced tomorrow.

 

Selling was observed across the board, Food, Technology, Cement, Steel and Chemical Sectors. Among the banking sector, HBL and UBL also saw selling pressure and traded in red close to the end of session.

 

Fertilizer sector also bore the brunt of negative sentiment and FFBL, despite posting a decent result failed to garner support. The Index closed at 40,607pts as against 40,624pts showing a decline of 17pts.

 

Sectors contributing to the performance include Food (+22pts), Fertilizer (-27pts), Tobacco (-21pts), Cement (-13pts), Banks (-13pts), Textile (-9pts).

 

Volumes declined again from 155mn shares to 125mn shares (-19% DoD). Average traded value also declined by 28% to reach US$ 35.8mn as against US$ 49.5mn.

 

Stocks that contributed significantly to the volumes include FFL, PIAA, STPL, DCL and HUMNL, which formed 29% of total volumes.

 

Stocks that contributed positively include NESTLE (+19pts), DAWH (+16pts), MCB (+10pts), PPL (+9pts), and HUMNL (+8pts).

 

Stocks that contributed negatively include PAKT (-21pts), FFC (-19pts), ENGRO (-18pts), FFBL (-10pts) and KTML (-9pts).

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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